Albumin Market Overview:

The Global Albumin Market was valued at $5,381 million in 2016, and is projected to reach $10,305 million at a CAGR of 9.6% from 2017 to 2023. Albumin is the most abundant protein found in blood plasma. It serves a wide range of functions such as transporting hormones and fatty acids and maintains oncotic pressure. Therapeutically, it is used to replace lost fluid and helps restore blood volume due to trauma, burns, surgeries, or infections and liver diseases. It assists in the stabilization of drugs by reducing aggregation, oxidation, and surface absorption. Different types of serum albumin are widely used for clinical applications. Human serum albumin and bovine serum albumin are obtained from human plasma and bovine plasma, respectively. On the other hand, recombinant albumin is manufactured by recombinant techniques in yeast and bacteria strains.

Increase in prevalence of life-threatening disorders and conditions, especially liver diseases, infections, and cardiac surgeries leading to hypoalbuminemia. Other factors that boost the market growth include rise in adoption of albumin products, upsurge in albumin products usage for non-therapeutic application across the world, and increase in awareness recombinant albumin. However, factors such as stringent governmental regulations and post-operative risks associated with albumin-based therapy hamper the market growth. Conversely, the development of cost-effective therapeutics along with large scale production of albumin and high potential in untapped markets in the emerging economies are expected to provide lucrative growth opportunities for the market.

Market Segmentation

The global albumin market is segmented into product, application, and region. Based on product, the market is divided into human serum albumin, bovine serum albumin, and recombinant albumin. Human serum albumin segment accounted for the largest market share in 2016, and is expected to continue this trend throughout the forecast period owing to high production of human serum albumin and it has widespread application in therapeutics as blood volumizer. On the other hand, recombinant albumin segment is anticipated to grow at a significant CAGR of 11.4% during the forecast period. This is due to rise in awareness about recombinant albumin and utilization of recombinant albumin in drug and vaccine formulations.

By application, the market is categorized into therapeutics, drug formulation & vaccine, component of media, and other applications. Therapeutics segment accounted for the largest market share in 2016 due to increase in prevalence of trauma, burns cases, and rise in number of surgical procedures. Whereas, drug formulation & vaccines segment is expected to register the highest growth rate during the forecast period.

Based on region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2016, followed by Europe. On the other hand, Asia-Pacific is anticipated to dominate the market during the analysis period, owing to high population base, increase in disposable income, and improvement in patient awareness about albumin products. Moreover, Asia is a large continent, and thus has emerged as an epicenter of life-threatening diseases.

Other players (these players are not profiled in the report and the same can be included on request) in the value chain include Biotest AG, Medxbio Pte Ltd., Mitsubishi Tanabe Pharma Corporation, Kedrion S.p.A, HiMedia Leading BioSciences Company, and Celgene Corporation.

Key Benefits

The study provides an in-depth analysis of the global albumin market with current trends and future estimations from 2016 to 2023 to elucidate the imminent investment pockets.

Comprehensive analysis of factors that drive and restrict the market growth is provided.

Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.

Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.

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Albumin is the most abundant plasma protein, constituting approximately 50% of total plasma protein. It is produced in the liver and maintains oncotic pressure of blood, and transports hormones, fatty acids, and other compounds. It is obtained from human and animal’s plasma by fractionation that is further used to treat different disorders.

Rise in number of patients suffering from life-threatening diseases and conditions, especially hypoalbuminemia, is the major factor that drives the growth of the global albumin market. Other factors such as increase in demand for albumin products, rise in non-therapeutic application of albumin, and surge in preferences for recombinant albumin products usage in various treatments are expected to have a significant impact on the growth of the market. However, factors such as stringent governmental regulations and post-operative risks associated with donated albumin hamper the market growth.

The use of albumin is the highest in North America, owing to the presence of large patient population and high adoption of recombinant albumin, followed by Europe and Asia-Pacific. In addition, albumin providers and distributors have focused on expanding their presence in the emerging economies, which in turn is anticipated to drive the market growth.